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Sports Utility Vehicles (SUVs) have become a popular alternative to hatchbacks, sedans and Multi-Purpose Vehicles (MPVs) for many drivers. SUVs are a preferred option due to the additional comfort, convenience and cabin space. With these additional benefits, is insurance for SUVs expensive? In this article, we explore SUV car insurance and how you can buy or renew car insurance for SUVs online.
Car insurance for SUVs insures you against financial liability, medical expenses and legal consequences. Also, SUV insurance (Third-party Liability Plan) is mandated as per The Motor Vehicles Act, 1988.
Suppose you don’t have Third-party Insurance for your SUV. In that case, you are risking financial and legal liability in case of an accident, which could potentially cost you hundreds of thousands of rupees. You would end up spending from your pocket for repairs and legal costs.
Apart from the mandatory Third-party Insurance for your vehicle, it is only when you insure your SUV with Comprehensive Insurance is your vehicle covered against damages, or different perils, like natural or man-made calamities, theft, or fire.
If you don’t have car insurance for your SUV, you could potentially be breaking the law. Driving without insurance could result in penalties and/or imprisonment. The purpose of having car insurance for your SUV is so you can reimburse others for damage you cause, or you are financially protected against expenses from a car accident.
Insuring your SUV is crucial even beyond accidents and third-party liabilities. If your SUV is stolen, you can raise a claim with your insurer, in this case, ACKO, and we would pay the insured value based on the terms and conditions of your insurance policy.
Here are the primary types of car insurance for SUVs.
Owning third-party insurance for your SUV is compulsory while driving a vehicle in India. The cover provides financial and legal protection if you damage someone’s property or vehicle or injure them in an accident.
Apart from coverage against third-party liabilities, the Comprehensive cover also protects you against damages or losses to your vehicle caused due to accidents, theft, floods, earthquake, riots, vandalism and more. For optimum insurance coverage for your SUV, it is advisable to opt for the Comprehensive cover for broader coverage and reduce your financial liabilities.
Here are the risks covered under ACKO’s Comprehensive Car Insurance Policy.
Damage due to natural calamities (floods, cyclones, earthquakes, etc.)
Damage due to man-made calamities (vandalism, riots, etc.)
Damage due to fire
Damage due to an accident
Injuries to the SUV owner (when the mandatory Personal Accident cover is purchased)
Add-on covers (as applicable)
Here are the risks not covered under ACKO’s Comprehensive Car Insurance Policy.
Risks not mentioned in the inclusions of the policy
Damage while driving the SUV under the influence of intoxicating substance or alcohol
Damage or loss when your policy is not active
Damage or loss during war or similar conditions
Damage to tyres, tubes, and engine unless damaged in an accident
Damage due to regular wear and tear of parts
Damage or loss while driving the SUV without a valid driving licence.
Note: Please check respective policy wordings for more details.
You can submit your claim by visiting www.acko.com, or by calling us on 1800-266-2256. You can also raise your car insurance claim online through our mobile app. While raising a claim, you are required to provide the following details.
Your vehicle number or your contact number
Photographs of the damaged vehicle and the description of the accident
First Information Report (FIR) in case of theft or damage to any third party or their property.
While raising a claim through our website or mobile app, follow these simple steps.
Step 1: Visit our website/mobile app and login into your ACKO account.
Step 2: Select “Claim”, answer a few questions about the damages, and upload pictures of the damaged vehicle.
Step 3: Click on submit to raise your claim.
Our support team might settle your claim within a few hours in case of minor damages, while your claim settlement for significant damages may be processed in a few days.
Driving around in a Sports Utility Vehicle (SUV) has its own charm. The mighty car can be equated with a King’s chariot; strong, appealing, and powerful. However, one must take adequate measures to safeguard this asset. Following road rules and driving cautiously is a necessity. Apart from this, purchasing an extensive car insurance policy is a good way of mitigating financial losses in case of mishaps involving the insured SUV. Also, insuring your car with at least a Third-party Liability policy is a mandatory requirement.
SUVs are impressive four-wheelers. It has a strong stance and road presence. It is prudent to take necessary precautions to safeguard your vehicle. Apart from driving safe, purchasing comprehensive insurance coverage for your SUV is an important step. It helps mitigate financial losses in case of accidental damages to your vehicle.
Apart from insuring your vehicle with the mandatory Third-party Liability Policy, you need to cover it with the Own Damage cover (OD). Along with the basic insurance coverage, you should consider including valuable add-ons to insure your SUV for broader coverage.
Digitization of the Indian insurance industry has made it possible to insure your car in an extremely convenient manner. Therefore, insuring your SUV online is a beneficial option, purely in terms of convenience. There are two types of policies: Third-party car insurance online and Comprehensive policy online.
A Comprehensive plan is better than the basic Third-party car insurance online option as it includes the mandatory aspect of the Third-party policy as well as insures the SUV against accidents, calamities, and theft, etc. Moreover, you also have the option of purchasing riders/Add-ons along with a Comprehensive plan. These Add-ons cannot be purchased individually or along with a Third-party Liability policy.
Add-ons are additional covers designed to provide an extra layer of insurance for your vehicle. They do increase your car insurance premium but offer enhanced coverage. It is crucial to choose only those Add-ons that meet your requirements. Therefore, one must analyze own requirements and purchase only those add-ons that add value to your policy.
SUVs are designed for long, rough, road trips; and you might be taking your SUV for a spin regularly on such road trips. In such cases, a Roadside Assistance Add-on is of great importance. If your car breaks down in the middle of a trip, all you need to do is call up your insurer and they will take care of your car by either sending a mechanic or towing your car to a nearby garage. Apart from this, other popular Add-ons are: Zero Depreciation, Return to Invoice, Passenger Cover, etc.
Car insurance comparison is an integral part of the research process when it comes to finding the right car insurance company and the policy. Car insurance comparison helps you to find a low-priced car insurance policy, without compromising on the coverage.
Compare car insurance based on the following points
Coverage provided by the policy; Premium charged by the insurer; Claim settlement aspect of the insurer; Overall service of the insurer
If you were associated with an insurance provider earlier, you can compare car insurance based on your previous experience by looking at new-age insurers and their offerings. Digital-first insurance companies might provide exclusive offers from time-to-time on their website.
Purchasing a car insurance for SUV is not a one-time process. It needs to be renewed to keep it active. Remember, an expired car insurance policy is an invalid policy. Driving your SUV with an invalid car insurance policy is not at all fruitful. You can be penalized for doing so as it is as bad as driving without car insurance. Thus, it is better to renew your car insurance policy in advance. Renewing it a week before the expiry date is a good idea. This way, last-minutes hassles associated with renewing car insurance can be avoided.
Here are some of the advantages of buying car insurance for your SUV.
Financial cover for accidental damages
Legal and financial cover for third-party liabilities
Financial protection against natural calamities (floods, earthquakes, etc.)
Financial protection against man-made calamities (riots, vandalism, etc.)
Coverage against vehicle theft or total loss
Personal Accident cover
It is important to buy the right type of insurance plan for broad insurance coverage for your SUV. Here are some tips for buying the right insurance plan for your vehicle.
The basic insurance plan considers the depreciation of vehicle parts before settling a claim. However, the depreciation factor is not considered while settling the claim with the Zero Dep add-on cover. Hence, you get a higher claim settlement amount and avoid paying from your pocket.
The PA cover is mandatory when you purchase insurance for your vehicle. The cover provides financial assistance in case of death or injury caused due to an accident.
For not raising any claims during the policy period, you receive a discount known as No Claim Bonus. However, if you do submit a claim, you lose the discount. With the NCB Protection cover, your discount is protected even if you raise a claim.
Being stranded on the road with an SUV that won’t start can be a daunting experience. With the RSA cover, you get 24x7 emergency roadside assistance during such situations.
SUVs are larger and bigger compared to small hatchbacks and sometimes even premium sedans. What may cost less to repair a sedan may be expensive for an SUV. Here are some of the features of SUVs that impact insurance rates.
Bigger engine capacity
High-end safety features
Expensive spare parts
SUVs have become a preferred choice for drivers in India. It offers that extra elbow room you always wanted in your car apart from features such as higher ground clearance, bigger wheels, etc., that are crucial for Indian roads. However, the insurance cost for a vehicle, be it an SUV or sedan, is based on some primary and common factors between the two types of four-wheelers.
It is vital that you should weigh in the SUV vs sedan insurance debate. The price of the vehicle is the main factor, while the engine capacity, location, year of manufacture, and variant are other factors that influence the insurance cost.
Here is the car insurance for SUVs you can purchase at ACKO.
|Toyota Fortuner car insurance||Tata Harrier car insurance||Tata Nexon car insurance||Tata Safari car insurance|
|Toyota Innova car insurance||Mahindra XUV500 car insurance||Mahindra XUV700 car insurance||Mahindra Thar car insurance|
|Maruti Suzuki Brezza car insurance||Hyundai Creta car insurance||Kia Seltos car insurance||Kia Sonet car insurance|
|MG Hector car insurance||Mahindra Scorpio car insurance||Ford Endeavour car insurance||Hyundai Venue car insurance|
|Ford EcoSport car insurance||Toyota Urban Cruiser car insurance||Honda WR-V car insurance||Hyundai Tucson car insurance|
|Mahindra Bolero car insurance||Nissan Magnite car insurance||Renault Duster car insurance||Maruti Suzuki S-Cross car insurance|
|BMW X1 car insurance||Jeep Compass car insurance||Hyundai Kona electric car insurance||Tata Punch car insurance|
|Hyundai Alcazar car insurance||Skoda Kushaq car insurance||Volkswagen Taigun car insurance||Mahindra Alturas car insurance|
|Force Gurkha car insurance||MG Astor car insurance||Volvo XC90 car insurance||Mercedes-Benz GLA car insurance|
|Renault Kiger car insurance||Mahindra XUV300 car insurance||MG Gloster car insurance||Tata Nexon electric car insurance|
|BMW X5 car insurance||Audi Q3 car insurance||MG ZS electric car insurance||Nissan Kicks car insurance|
|Citroen C5 Aircross car insurance||Isuzu D-Max car insurance||Isuzu MU-X car insurance||Mahindra Bolero Neo car insurance|
Generally, big vehicles, such as SUVs, are more expensive to insure. However, small, crossover SUVs have insurance prices among the lowest of any vehicle type, including hatchbacks and sedans. Larger SUVs have higher insurance costs for insurance coverage.
One of the primary factors in deciding SUV car insurance rates is the Insured Declared Value (IDV) or the approximate market value of the vehicle. Hence, the insurance rates for SUVs differ between smaller, compact and larger vehicles.
Yes, you can buy car insurance for your brand new SUV from us. Visit our website or mobile app, provide a few details of your vehicle, and our team will customise an insurance quote for your vehicle. You can also process car insurance renewal through the online platform.
There is no paperwork involved when buying insurance for SUV cars with us. You don’t have to submit physical documents, and you can insure your SUV through ACKO with a few clicks on our website or mobile app.
No, engine damages are not covered under the insurance plan, except if damaged due to an accident. However, you can include an Engine Protection add-on cover to increase the base plan’s coverage to include engine damage.
Yes, car insurance add-on covers provide an extra layer of financial protection and coverage that the base plan does not provide. You can choose from an array of useful add-ons such as Zero Depreciation, Roadside Assistance, Key Replacement, Return to Invoice, Outstation Emergency, No Claim Bonus (NCB) Protection, Consumables and Personal Accident Cover for Passengers.
Have queries related to ACKO’s car insurance policies? Refer to our Policy Wordings for detailed information or reach out to us via email or phone using the information below
Write to us at [email protected]
Call us on 1800 266 2256